State-backed Royal Bank of Scotland (RBS) and Lloyds Banking Group have reiterated their intention to move the domicile of their operations from Scotland in the event of a yes vote.

Both lenders have also reiterated the move would be largely a regulatory function and would not have an impact on jobs.

The announcement some RBS functions could be moved in response to a Yes vote was relayed to the BBC via the Treasury on Wednesday evening.

RBS, which remains 80 per cent state-backed after receiving a £45.5 billion taxpayer-backed bailout at the height of the banking crisis six years ago, issued a statement to the stock market on Thursday morning reiterating contingency planning already outlined in its annual report.

The bank states: “In response to press speculation in relation to re-domicile, The Royal Bank of Scotland Group plc (RBS) confirms that, as set out in the risk disclosures in RBS’s Annual Report, there are a number of material uncertainties arising from the Scottish referendum vote which could have a bearing on the bank’s credit ratings, and the fiscal, monetary, legal and regulatory landscape to which it is subject.

“For this reason, RBS has undertaken contingency planning for the possible business implications of a ‘Yes’ vote.

“RBS believes that this is the responsible and prudent thing to do and something that its customers, staff and shareholders would expect it to do.

“As part of such contingency planning, RBS believes that it would be necessary to re-domicile the Bank’s holding company and its primary rated operating entity (The Royal Bank of Scotland plc) to England.

“In the event of a 'Yes' vote, the decision to re-domicile should have no impact on everyday banking services used by our customers throughout the British Isles.

“However, RBS believes that it would be the most effective way to provide clarity to all our stakeholders and mitigate the risks previously identified in our Annual Report.

“The vote on independence is a matter for the Scottish people. Scotland has been RBS's home since 1727.

“RBS intends to retain a significant level of its operations and employment in Scotland to support its customers there and the activities of the whole Bank.”

Lloyds Banking Group, which remains 24 per cent taxpayer-owned following its £20 billion taxpayer-backed bailout, has also stated it will move its head office functions to London in the event of a Yes vote.

Lloyds, which owns Halifax Bank of Scotland (HBOS) and Scottish Widows, has a brass plate domicile in Scotland for the TSB, also issued a statement on Wednesday evening though has yet to officially make a statement to the stock exchange.

Lloyds, which employs around 16,000 staff in Scotland, said: “Lloyds Banking Group has seen an increased level of enquiries from our customers, colleagues and other stakeholders about our plans post the Scottish referendum.

“While the scale of potential change is currently unclear, we have contingency plans in place which include the establishment of new legal entities in England.

“This is a legal procedure and there would be no immediate changes or issues which could affect our business or our customers.

“There will be a period between the referendum and the implementation of separation, should a Yes vote be successful, that we believe is sufficient to take any necessary action.”

National Australia Bank (NAB), the Australian parent of Clydesdale Bank, is also reported to be considering moving its domicile in the event of a Yes vote.

NAB, which has previously stated its intention to offload its Clydesdale and Yorkshire banks, stated in August it had contingency plans in place in place.

Reiterating those plans today, NAB said: “National Australia Bank (NAB) has confirmed its contingency planning for its subsidiary Clydesdale Bank includes seeking registration as an English company in the event of a ‘Yes’ vote in the forthcoming Scottish independence referendum.

“Re-registration would address some of the uncertainties and risks surrounding terms of separation if Scotland were to become an independent country.”

Clydesdale Bank chief David Thorburn, said: “We have strong roots in Scotland and we remain fully committed to our customers, staff and the communities in which we operate.

“Any change to the company’s legal structure would have no impact on the vast majority of the Bank’s staff.

Clydesdale Bank would continue to serve its customers just as it has since 1838 and Glasgow will continue to be the Bank’s key operational centre.”